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Pound Ends Week Flat, Australian Dollar Pares Gain

Published: 11 Apr at 12 PM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Germany, Japan, South Africa,

Pound Sterling
GBP/USD – Trading in the Region of 1.6768
A lack of UK news left the Pound struggling to find direction on Friday. The British currency was generally softer against its major currency rivals as investors focused on this week’s neutral Bank of England rate decision.

US Dollar
USD/GBP – Trading in the Region of 0.5965
Although the US Dollar recovered some of its recent losses yesterday, the currency was still set to close the week lower during European trading on Friday. However, the ‘Greenback’ may fluctuate later today following the release of the University of Michigan confidence index.

EUR/USD – Trading in the Region of 1.3892
The Euro was little-changed against its major currency counterparts after final German inflation figures for March matched up with previous estimates. As it stands, the Euro is heading into the weekend up slightly against both the US Dollar and Pound.

Australian Dollar
AUD/USD – Trading in the Region of 0.9397
A drop in Asian stocks lowered the appeal of the Australian Dollar and saw the currency trim recent gains during the local session.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8704
While the New Zealand Dollar reacted to a dip in risk-appetite by softening against its US and European counterparts, the South Pacific asset still recorded a five-day gain against the ‘Greenback’.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9157
Equity weakness saw the ‘Loonie’ close North American trading lower in spite of an increase in Canada’s new housing price index. Any additional movement in the commodity-driven currency is likely to be the result of US developments.

Japanese Yen
USD/JPY – Trading in the Region of 101.5600
The Yen advanced on several of its currency counterparts as a risk-off environment pushed investors towards the safe-haven asset.

South African Rand
USD/ZAR – Trading in the Region of 10.4472
On Friday the Rand edged further away from its recent 8-month high against the US Dollar as investors lost their appetite for risk. However, the emerging market currency remained stronger against the Pound and Euro.
As of Friday, 11th April 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.205, GBP USD exchange rate was 1.6732, GBP AUD exchange rate was 1.7807, GBP NZD exchange rate was 1.9257, GBP CAD exchange rate was 1.8371, GBP JPY exchange rate was 170.0384, and GBP ZAR exchange rate was 17.557.
Dominic Lee About Author: (474 Posts)With over ten years experience as an economist – including four years spent as a chief economist with a major currency broker – Dominic has acquired a wealth of knowledge which he uses to forecast market movements. Dominic now works as an independent business advisor and writes for several financial publications.

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